Pritika Auto Industries Ltd finalized Rs 30 Crore Order Per Annum from Leading OEM Tractor Manufacturer
Sets New Monthly Dispatch Record of 1350 Metric Tons in September, 2024
VMPL
Mohali (Punjab) [India], October 8: Pritika Auto Industries Limited (BSE: 539359; NSE: PRITIKAUTO), among leading manufacturers of tractor components in India, is pleased to announce that it has finalised a significant order worth Rs 30 crore per annum from country's leading OEM tractor manufacturers. This order represents a strong endorsement of the company's capabilities in delivering high-quality components for the agriculture sector.
The order involves the supply of approximately 250 tons per month of new large components designed for tractors. These new components will weigh over 78 kilograms, underscoring Pritika Auto's expertise in producing robust, heavy-weight products. This latest order is a testament to Pritika Auto Industries' Limited commitment to innovation and excellence in meeting the evolving needs of the automotive industry, particularly in the agricultural segment.
Company has recently announced highest ever monthly dispatch, reaching an impressive 1350 metric tons in September, 2024. Company has successfully adopted new technology and with this it has shifted its focus towards higher-weight products which fetch relatively higher margin. The trial batches produced using this advanced technology have been well received by Original Equipment Manufacturers (OEMs), leading to the commencement of commercial production. This achievement underscores PECL's ability to adapt to market demands and deliver high-quality products. Looking ahead, the demand outlook for Pritika Engineering Components Limited remains strong. The Company is confident in its ability to leverage the new technology to enhance its production capabilities and meet the evolving needs of its customers.
Commenting on this development, Harpreet S. Nibber, Managing Director, Pritika Auto Industries Limited said: "We are delighted to finalise Rs 30 crore order and record monthly dispatch of 1350 metric tons in September, 2024, which is a testament to our team's relentless efforts in innovation and quality. This achievement not only underscores our ability to meet the stringent demands of leading OEM tractor manufacturers but also highlights our commitment to supporting the agricultural sector with robust and reliable components. As we continue to scale our operations, this order reinforces our strategic focus on enhancing our production capabilities and expanding our presence in the industry. As the Company moves forward, we remain dedicated to our core values of quality, innovation, and customer satisfaction. We look forward to achieving many more milestones and contributing significantly to the automotive industry."
"The successful implementation of new technology not only enhances our production efficiency but also allows us to diversify our product offerings to meet market demands. Our focus on higher-weight products aligns with industry trends, and these products also yield better margins. The strong demand outlook reinforces our confidence in our growth strategy and our ability to deliver exceptional value to our customers. This milestone is a testament of our dedication towards growth and excellence."
Pritika Auto Industries Limited: https://bsmedia.business-standard.comwww.pritikaautoindustries.com/
Pritika Auto Industries Ltd. is a flagship company of the Pritika Group of Industries which was set up in 1974 by Raminder S. Nibber, manufacturing small forgings. Over the last four decades and under Nibber's visionary leadership, the Company has established itself as a robust and reliable brand in its market, specializing in machined castings and automotive components. A quality driven organization, Pritika produces world class components from modern facilities. Pritika has manufacturing facilities situated at Derabassi, Hoshiarpur and Mohali (Punjab), and Tahliwal (Himachal Pradesh) with a total capacity of over 75,000 metric tons per annum (MTPA).
Catering primarily to tractors and commercial vehicles, Pritika focuses on expanding and diversifying its product portfolio. The Company manufactures a wide range of products such as axle housings, wheel housings, hydraulic lift housings, end cover, plate differential carrier, brake housings, cylinder blocks, and crank cases, among others. Pritika is one of the biggest component suppliers in the tractor segment of the automobile industry in India and supplies to OEMs like M & M Swaraj, Swaraj Engines Ltd, TAFE, Escorts, SML Isuzu, TMTL, Ashok Leyland, New Holland Tractors India Ltd., Brakes India etc. The Company's vision is to provide products which meet customer's quality requirement constantly at competitive prices.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
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First Published: Oct 08 2024 | 12:40 PM IST
